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The Biden administration recently announced that it has cancelled $7 billion in federal student loan debt for about 350,000 borrowers with disabilities through a data-sharing initiative between the...
The president said military vets won't have to pay federal income tax on the forgiven debt and called on states to waive their taxes on the loans, too. Trump signs student debt forgiveness for ...
Hundreds of millions of dollars in federal student loan debt owed by tens of thousands of disabled military veterans will be erased under a directive President Donald Trump signed Wednesday.
In August 2022, the administration used the Act again to announce student debt cancellation of up to $20,000 and several other reforms. [7] [16] Following litigation brought by several Republican-led state governments, the Supreme Court ruled in Biden v. Nebraska (2023) that the statute did not permit the administration's debt forgiveness ...
Student loan debt rose from $480.1 billion (3.5% GDP) in Q1 2006 to $1,683 billion (7.8% GDP) in Q1 2020. Student loans play a significant role in U.S. higher education. [50] Nearly 20 million Americans attend college each year, of whom close to 12 million – or 60% – borrow annually to help cover costs. [51]
Getting rid of federal student loan debt has just become easier — in many cases automatic — for borrowers with qualifying disabilities. The U.S. Department of Education announced that it will ...